XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST INCOME:        
Loans $ 1,916,091,000 $ 2,050,667,000 $ 5,773,102,000 $ 6,085,153,000
Interest-earning deposits 7,049,000 46,944,000 47,471,000 138,861,000
Investment securities:        
AFS 38,084,000 64,777,000 159,738,000 210,344,000
HTM 24,530,000 16,319,000 71,305,000 49,429,000
Other investments 5,578,000 6,400,000 17,482,000 18,451,000
TOTAL INTEREST INCOME 1,991,332,000 2,185,107,000 6,069,098,000 6,502,238,000
INTEREST EXPENSE:        
Deposits and other customer accounts 52,325,000 152,953,000 250,060,000 428,386,000
Borrowings and other debt obligations 317,615,000 413,044,000 1,072,878,000 1,230,134,000
TOTAL INTEREST EXPENSE 369,940,000 565,997,000 1,322,938,000 1,658,520,000
NET INTEREST INCOME 1,621,392,000 1,619,110,000 4,746,160,000 4,843,718,000
Credit loss expense 405,825,000 603,635,000 2,568,808,000 1,684,478,000
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE 1,215,567,000 1,015,475,000 2,177,352,000 3,159,240,000
NON-INTEREST INCOME:        
Consumer and commercial fees 123,834,000 133,049,000 356,907,000 412,566,000
Lease income 742,946,000 735,783,000 2,269,613,000 2,116,503,000
Miscellaneous income, net [1],[2] 308,222,000 130,033,000 330,165,000 327,849,000
TOTAL FEES AND OTHER INCOME 1,175,002,000 998,865,000 2,956,685,000 2,856,918,000
Net gain(loss) on sale of investment securities (148,000) 2,267,000 31,646,000 2,646,000
TOTAL NON-INTEREST INCOME 1,174,854,000 1,001,132,000 2,988,331,000 2,859,564,000
GENERAL, ADMINISTRATIVE AND OTHER EXPENSES:        
Compensation and benefits 461,992,000 485,920,000 1,391,786,000 1,432,730,000
Occupancy and equipment expenses 152,998,000 156,603,000 464,784,000 441,643,000
Technology, outside service, and marketing expense 124,211,000 178,053,000 386,192,000 482,183,000
Loan expense 67,139,000 98,639,000 219,483,000 308,139,000
Lease expense 612,639,000 523,900,000 1,844,270,000 1,516,984,000
Impairment of goodwill 0 0 1,848,228,000 0
Other expenses 150,249,000 190,129,000 427,978,000 536,366,000
TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES 1,569,228,000 1,633,244,000 6,582,721,000 4,718,045,000
INCOME / (LOSS) BEFORE INCOME TAX (BENEFIT)/PROVISION 821,193,000 383,363,000 (1,417,038,000) 1,300,759,000
Income tax (benefit)/provision (53,343,000) 112,927,000 (272,856,000) 384,467,000
NET INCOME / (LOSS) INCLUDING NCI 874,536,000 270,436,000 (1,144,182,000) 916,292,000
LESS: NET INCOME ATTRIBUTABLE TO NCI 101,701,000 66,831,000 82,087,000 250,086,000
NET INCOME / (LOSS) ATTRIBUTABLE TO SHUSA $ 772,835,000 $ 203,605,000 $ (1,226,269,000) $ 666,206,000
[1] Includes equity investment income/(expense), net.
[2] Netted down by impact of $56.6 million, and $387.9 million for the three-month and nine-month periods ended September 30, 2020, respectively, compared to $67.0 million and $239.1 million for the corresponding periods in 2019 of lower of cost or market adjustments on a portion of the Company's LHFS portfolio.